Ethereum co-founder (ETH) – Vitalik Buterin – recently discussed the dispute that development should focus on first or second level features in blockchains. He also talked about the resulting selloffs and expressed his opinion about what he thinks should be done.
First-level and second-level solutions
The co-founder started by explaining what the first and second level solutions are. He said that the first-level solutions are those solutions that are integrated into the layer of the blockchain itself, while the second-level solutions are built on top of the blockchain without altering the rules of the blockchain.
An example of a first The level solution is the activation of Segregated Witness on the Bitcoin blockchain (BTC). An example of a second-level solution is the lightning network – a payment channel system designed on the Bitcoin blockchain (BTC).
He added that this difference was mainly seen in the topics concerning the scalability of blockchains, in similar situations as the size of the sharding block increases as first-level solutions and Plasma or payment channels on the side of the second layer.
Buterin's Declaration on the Advancement of Blockchain
Regarding the progress of the blockchain, Vitalik Buterin said: " He believes that with increasing the maturity of the blockchain, the first layer it will inevitably stabilize, and the second layer will take on more clutter than changes and innovations in place. " Buterin said that the reason why he said it is that first layer solutions need changes in the protocol and this leads to government of the blockchain.
However, he said that the top-level solution should be able to take care of the data. The availability concerns the second-level solutions.
Ethereum (ETH) Price today – ETH / USD
At the time of writing, Ethereum (ETH) is trading at $ 285 after a decrease of about three percent in the last twenty-four hours. The digital currency currently has a market capitalization of $ 29.03 billion and its trade volume in the last 24 hours is $ 1.47 billion.